1. Is an accounting firm operating in a perfectly competitive market? Why or why

1. Is an accounting firm operating in a perfectly competitive market? Why or why not?2. If the owner of the company ( accounting firm) asked you to assess
whether or not they were using the optimal amount of an input (given a
set price for that input) what economic criterion would you use in your
analysis?3. If you were asked to assess the economic profitability of the
accounting firm what economic tools would you use in your analysis?4. What is the elasticity of demand for the product (or one of the
products) that is produced by the company? Given this elasticity of
demand how should the company price their product in this market? Give
justification for your answer.